As previously communicated, if the conditional deal with Bio Vitos Medical Limited is approved, Hemcheck acquires IP rights regarding the use of iron succinate for the treatment of patients diagnosed with heart failure with reduced ejection fraction (HFrEF) for China, the USA, Japan and the EU excluding Sweden, Denmark, Norway and Finland.
The IP rights can provide patent protection for 18 years. The substance is supposed to be registered as a drug under the name Succifer, starting in Europe and the USA, which Bio Vitos estimates will take over 18 months. It will target a large market, as heart failure is common, and a large proportion of these patients have iron deficiency. In Sweden, for example, there are about 200,000 patients with heart failure and about 50% suffer from iron deficiency. Results from studies conducted by Kurt Boman, Professor of Cardiology at Umeå University, indicate that the drug significantly improves iron absorption, iron saturation and iron stores in patients with heart failure and iron deficiency, without known side effects.
Current competing treatments involve the injection of iron, unlike Succifer which is taken orally and with equivalent effect which thus has several advantages, above all it is many times more expensive to give injections than oral tablets. These competing treatments turn over billions of SEK and the goal is for Succifer to take a large share of that market. As over 25 percent of the world’s women also suffer from iron deficiency and today’s iron supplements are relatively ineffective and can cause side effects, the company also intends to apply for drug approval for Succifer for improved iron absorption, iron saturation and iron stores in women with iron deficiency, if possible.
More detailed information is intended to be given prior to decisions at the upcoming extraordinary general meeting.
For further information contact:
Hemcheck Sweden AB (publ)
Joen Averstad, CEO
Tel: +46 76 108 8191
About Bio Vitos Medical Limited
Bio Vitos Medical Ltd, with Craven House Capital Plc, listed on the London Stock Exchange, as the largest owner, engages in the development, commercialization and distribution of health-promoting products for humans and animals. The product range mainly consists of succinate-based drugs and Omega 3-based dietary supplements, with a focus on Europe, the USA and Asia.
Hemcheck Sweden AB, founded in 2010, produces and commercializes a patented CE-marked concept for point of care hemolysis detection. The concept consists of disposable tests as well as readers that can very quickly, directly upon sampling, identify hemolysed blood samples in vacuum tubes and blood gas syringes. Hemolysis, ruptured red blood cells, is the most common reason globally why blood samples cannot be analyzed accurately and is also a biomarker for acute medical conditions. Hemcheck’s goal is to contribute to improved healthcare by offering user-friendly solutions for the detection of hemolysed blood samples in direct connection with blood sampling near the patient. By doing so, Hemcheck can contribute to increased patient safety, more efficient processes and lower costs. The company is listed on the Nasdaq First North Growth Market.
FNCA Sweden AB, 08-528 00 399, info@fnca, is the Certified Adviser to the company.